Civeo (NYSE:CVEO) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Civeo (NYSE:CVEO) from a hold rating to a sell rating in a report published on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Civeo in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.00.

Civeo Stock Down 0.9%

Shares of NYSE:CVEO opened at $21.95 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. Civeo has a 12 month low of $18.01 and a 12 month high of $28.23. The company has a 50-day moving average price of $23.09 and a 200 day moving average price of $22.29. The company has a market cap of $275.45 million, a price-to-earnings ratio of -9.03 and a beta of 1.20.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. The business had revenue of $162.69 million during the quarter, compared to the consensus estimate of $166.38 million. During the same period in the previous year, the business posted $0.57 EPS. Civeo has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Civeo will post -0.58 earnings per share for the current year.

Institutional Trading of Civeo

Several institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of Civeo during the second quarter valued at approximately $66,000. XTX Topco Ltd bought a new stake in shares of Civeo during the second quarter valued at approximately $255,000. American Century Companies Inc. raised its stake in shares of Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock valued at $10,871,000 after acquiring an additional 32,452 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Civeo by 5.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider’s stock valued at $855,000 after acquiring an additional 1,759 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in shares of Civeo during the second quarter valued at approximately $748,000. Institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.